Bond assistance for
private rental tenants
First Start
Shared Equity
Home Loan Scheme
An Affordable Housing Initiative
· Shared home wnership
· Low deposit
· No monthly fees
· Variable interest rate
· No mortgage insurance costs
How much can I borrow?
The amount you can borrow will be related to your
assessable income and will take into consideration
other commitments (such as credit cards and/or
personal loans) you may have (cannot exceed 5% of your
assessable income).
Your equity percentage will depend upon how much
you can afford to borrow and the value of the property
you buy.
Repayments are made weekly, fortnightly or monthly
by direct debit.
Determining your eligibility
To find out if you are eligible for a First Start loan or to
register your interest in the scheme contact:
Keystart Home Loans
Level 6, 218 St George’s Terrace
Perth WA 6000
Telephone: 1300 KSTART (1300 578 278)
Disclaimer
All eligibility criteria and information contained in this
brochure are subject to change.
fd
Eligibility criteria
Applicants for the Scheme must:
· qualify for the First Home Owner Grant
· have assessable income that is within the eligibility
limits for the scheme
· be owner-occupiers and not own other residential
property
· be a permanent resident and be over 18 years of age
· not have more than 5% of assessable income servicing
other debts such as car/personal loans or credit/store cards
· not have any debts owing to the Department of
Housing and Works
· not be currently bankrupt or discharged from
bankruptcy within 2 years of the date of the application
· comply with Keystart lending policies
All about the loan
· Maximum property value :
Metropolitan area
$355,000
Regional areas
$375,000
· Low deposit, $2,000 or 2% of the value of your equity
share (whichever is greater)
· The First Home Owner Grant can be used towards the
deposit and fees
· Variable interest rate
· No lenders mortgage insurance
· No account keeping fees
www.dhw.wa.gov.au
DHW167 10.08
An innovat